To fix or not to fix, that is the Question

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Derek Keogh, Head of Personal Savings at Anglo Irish Bank, outlines the key factors to consider when choosing a fixed term bond or a fixed term account over the next few months.

Continuing to help savers make more money on their money this winter, Derek Keogh, Head of Personal Savings at Anglo Irish Bank, outlines the key factors to consider when choosing a fixed rate bond or fixed term account. With a wide variety of accounts and bonds to choose from, coupled with a wide range of savings needs, the decision isn't always easy.

Here's what he suggests you should take into account before you lock-in to a rate:

  •     Which is more important, to have certainty of the return on your money or to have access to your money? If it is certainty of return, choose a fixed term account.
  •     Don't assume a fixed rate is better than a variable rate - if money market rates start to rise, you may fix in at the wrong time. Find out what money experts think about future interest rates as you might find in less than a years' time, rates will be higher.
  •     Look for fixed term accounts which allow some level of access without penalty.
  •     Watch out for fixed rate savings accounts that have penalties for withdrawing early where you may get back less than you invested at the start.
  •     At the end of your fixed term, check if you qualify for a "loyalty" rate'.

The material contained in this message is for general information purposes only and does not constitute an offer to buy or sell or a solicitation of any investment products or other financial product or service. You should not act or refrain from acting on the basis of any material contained in this message without seeking appropriate professional advice. All information is provided "as is" and without warranties express or implied and Anglo Irish Bank Corporation Limited accepts no liability whatsoever for any inaccuracies, errors, omissions, opinions or misleading information or for any action taken or not taken in reliance on the information in this message. Any expressions of opinion are current opinions as at the date of publication and are subject to change without notice.

Anglo Irish Bank Corporation Limited is regulated by the Financial Regulator in Ireland.

Anglo Irish Bank provides business lending, treasury, personal savings and private banking services to our customers across locations in Ireland, the UK, Germany, Austria, the Isle of Man, Jersey and the USA.

News update released by:

Group Marketing & Communications
Anglo Irish Bank Corporation Limited
Stephens Court
18/21 St. Stephens Green
Dublin 2

+ 353 1 6162000

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